Saia Third-Quarter Revenue Hits a Record $982.5 Million, Up 17%, as EPS Reaches $3.41 and Board Authorizes $250 Million Buyback
Less-than-truckload carrier Saia, Inc. (Nasdaq: SAIA) reported third-quarter 2026 results on October 29 in Johns Creek, Georgia. Revenue was a company record of $982.5 million, an increase of 17.0% from a year earlier, and diluted earnings per share were $3.41, compared with $3.22 in the third quarter of 2025. Saia also announced that its Board of Directors has authorized the repurchase of up to $250 million of the company's common stock.
On operating measures, LTL tonnage per workday was a record and increased 8.9%; LTL revenue per shipment, excluding fuel surcharge revenue, increased 5.8%; and LTL shipments per workday increased 0.8%. Operating income was $122.3 million, an increase of 3.1% from $118.6 million a year earlier, and the operating ratio was 87.6%, compared with 85.9% in the prior-year quarter.
President and CEO Fritz Holzgrefe said the team delivered solid third-quarter performance, including record revenue and tonnage per workday, and that the 5.8% increase in revenue per shipment excluding fuel surcharge reflects continued progress in pricing and mix optimization. He said the company continues to execute its long-term strategy to build a leading national LTL carrier, with investments in its network, people, equipment and technology strengthening its customer value proposition.
Executive Vice President and CFO Matt Batteh said consistent execution and continued investment are translating into measurable results, including market share gains, improved service and strong free cash flow generation, with more than $240 million of free cash flow generated year to date, providing the financial flexibility to support profitable growth while returning capital to stockholders, including under the new $250 million repurchase authorization.
Saia ended the quarter with $202.5 million of cash on hand and $100.0 million of total debt, compared with $35.5 million of cash and $219.2 million of total debt at September 30, 2025. Net capital expenditures were $235.9 million in the first nine months of 2026, and the company expects full-year net capital expenditures of approximately $350 million.
The repurchase program is effective immediately, has no expiration date, and does not obligate the company to acquire a specified number of shares; repurchases may be made from time to time through open market purchases, a 10b5-1 trading plan, privately negotiated transactions or other permitted methods, and the program may be suspended, modified or terminated at any time. Headquartered in Georgia, Saia LTL Freight operates 219 terminals with national service.
Source: GSM · USA (original Chinese edition)
Photo: 图：一辆 Saia LTL Freight 的红色零担卡车（资料图，2019 年摄于 Las Vegas）。照片：Tomás Del Coro 摄，CC BY-SA 2.0，经 Wikimedia Commons。 / A red Saia LTL Freight truck (file photo, Las Vegas, 2019). Photo: Tomás Del Coro, CC BY-SA 2.0, via Wikimedia Commons.
